Red Hat Makes $773m on Open Source

Red Hat Makes $773m on Open Source

Red Hat has increased subscriptions of its open source software by 24 per cent to $209m for the fourth quarter 2010.

Across the full year, the company reported revenues of $909m, of which $773m came from subscriptions.

"We are on a run rate to become the first pure-play open source company to achieve $1bn in revenues in the next fiscal year, a milestone achievement for Red Hat and the open source community," stated Jim Whitehurst, president and chief executive officer of Red Hat.

"We believe the strong demand we experienced was largely driven by customers who are modernising their datacentres and preparing their infrastructure for cloud computing. The comprehensive portfolio that Red Hat has developed with platform, virtualisation and middleware products provides enterprise customers with a foundation to deploy the next-generation infrastructure."